|Bid||1.550 x 0|
|Ask||1.560 x 0|
|Day's Range||1.520 - 1.560|
|52 Week Range||1.380 - 1.940|
|Beta (3Y Monthly)||0.67|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.06 (3.85%)|
|1y Target Est||1.70|
Moody's Investors Service ("Moody's") has affirmed the Baa3 senior debt rating of The Hanover Insurance Group, Inc (NYSE:THG, Hanover) and the A3 insurance financial strength (IFS) rating of its operating subsidiary, Hanover Insurance Co., and changed the ratings' outlook to positive from stable, following the company's announcement that it has entered into a definitive agreement to sell its Chaucer business unit, Hanover's Lloyd's-focused international specialty business, for $865 million in cash (and $85 million in Chaucer dividends) to China Reinsurance Corporation. Hanover expects to use the proceeds from the sale to expand its US businesses and potentially reduce leverage and/or return capital to shareholders.
Half Year 2018 China Reinsurance Group Corp Earnings Call (Chinese, English)
Hanover Insurance Group Inc on Thursday decided to sell its unit that underwrites risks at insurance market Lloyd's to China Reinsurance Group Corp for $950 million to focus on expanding its domestic business. Shares of Hanover rose as much as 5.32 percent, with the company saying that sale of the unit, Chaucer, would reduce its catastrophe and tail risk exposure and improve long-term operating return-on-equity potential. China Reinsurance will fund the deal to buy Chaucer with $865 million in cash and $85 million in dividends from the unit.
Sept 13 (Reuters) - Hanover Insurance Group Inc: * PRESS RELEASE - THE HANOVER INSURANCE GROUP, INC. ANNOUNCES AGREEMENT TO SELL CHAUCER FOR TOTAL PROCEEDS OF $950 MILLION * HANOVER INSURANCE GROUP INC ...
Sept 13 (Reuters) - China Reinsurance Group Corp: * CO TO BUY HANOVER INSURANCE INTERNATIONAL, HANOVER AUSTRALIA HOLDCO AND CHAUCER INSURANCE COMPANY DESIGNATED ACTIVITY * DEAL FOR INITIAL CONSIDERATION ...
WORCESTER, Mass., Sept. 13, 2018 /PRNewswire/ -- The Hanover Insurance Group, Inc. (THG) today announced it has entered into a definitive agreement to sell the entities comprising Chaucer, its Lloyd's-focused international specialty business, to China Reinsurance (Group) Corporation ("China Re"), for total proceeds of $950 million, including cash consideration from China Re of $865 million and a pre-signing dividend from Chaucer of $85 million, received in the second quarter of this year. The transaction will position The Hanover to continue the successful expansion of its domestic business, building out its strategic capabilities for its partners and customers. The transaction is anticipated to close late this year or in the first quarter of next year, subject to regulatory approvals and other customary closing conditions.
March 20 (Reuters) - China Energy Engineering Corp Ltd : * ENTERS STRATEGIC COOPERATION DEAL WITH CHINA REINSURANCE (GROUP) CORPORATION * SCOPE OF DEAL INCLUDES COOPERATION IN INSURANCE BUSINESS,INSURANCE ...
China Reinsurance (Group) Corporation (SEHK:1508) generated a below-average return on equity of 7.64% in the past 12 months, while its industry returned 10.43%. 1508’s results could indicate a relatively inefficientRead More...